Charles Walker – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Charles Walker on 2016-02-25.

To ask Mr Chancellor of the Exchequer, what discussions he has had with the FCA on its making guidance available to banks which are seeking to comply with money laundering rules in relation to domestic politically-exposed persons in a proportionate way; and if he will make a statement.

Harriett Baldwin

The Government is taking concerns about the Anti-Money Laundering requirements regarding Politically Exposed Persons (PEPs) seriously. While addressing corrupt PEPs is an important aspect of global efforts to tackle corruption and money laundering, it is essential that this be done proportionately. Treasury ministers have regular discussions with banks and the FCA, including on ensuring that guidance is clear and appropriate.